The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1887-08-13
ORDINANCE.

The following application by the Tennessee
Central&Alabama Railway Company, through
its president, Horace Scott, was submitted 10
the Mayor Of the city Of Milan, showing the
proposed termini of the railway, with the ac-
companying declaration on the part of the
company that II will locate and construct il
railway within one mile of the city Of Milan
To the Board Of Mayor and Aldermen
@the City Of Milan, Gibson County,
Tennessee:
., The Tennessee Central l. Alabama Railway
Company, corporation duly chartered and
organized under the general laws of the state
OF tennessee, through its agent and president,
Horace Scott, make application to your board
and city to subscribe for Fifteen Thousand
Dollars OF the capital stock of said company,
to be paid for in Coupon Bonds Of your city OF
such denominations that will be most conTen-
ient bearing six per cent. interest per annum,
interest to be paid semi annually at the Office
OF your city treasurer on the first days Of jan
9ary and July OF each year. aud the bonds
themselves TO mature in twenty years from
their issuance with interest coupons attached,
The bonds to be delivered to the TennessOe
Central q Alabam Railway Company, its
agents or assisnses as follows, to wit One
half, or Seven Thousand Five Hundred Dol
lars, when the road bed shall have been com
pletea and the cars running regularly thereon
from trenton Tennessee, to Milan. Tennessee,
provided that the Board Of Mayor and Alder
men OF the town of Milan shall at that time
have assurances satisfactory to them that the
road will be completed and put in operation
from Milan, Tennessee, to Lexington, Tennes.
see. If the first half of subscription shall not
have been paid before the road is completed
and nains regularly running thereon from
Milan Tennessee. to Lexington, Tennessee,
It, together with the other half. is to be abso-
! lutely payable at that time. That is to say,
ne whole amosnt of Fifteen thousand
soon as the road is completed as afores aid from
| Milan to Lexington. Tennessee, or some point
| equally distant from Milan. The Board Of
Mayor and Aldermen may, however, deliver
half OF said bonds, VA before mentioned, when
the road ie completed from Trenton to Milan,
as Aforesaid; # they so elect. AS said bonds
| ars delivered this company will issue and de-
| liver to the city of Milan the same Hmount Of
,ts capital stock as the amount Of bonds de.
liveIed.
.0, HORACE SCOTT. President.
That the said application above set out was
duly submitted by the Mayor of this munici
pality to the Board Of Mayor and Aldermen at
a regular meeting thereof. when said applica-
tiOn was received and ordered spread upon the
minutes. which has been done.
And, Whereas a majority Of Board of Mayor
and Aldermen were Of opinion thataA election
should be held to ascertain the will of the
qualified voters whether the subrCription
aforesaid us set out in said Application shall
be made,
Therefore. ordered that the City Marshal
will. after advertising for thirty days imne-
diately preceding 18th day of September, 1887
as required by law. he shall on said 18th da,
of September. 1887. open and hold an election
at every voting place, or ward, to ascertain
the.will of the qualified voters Of said city o.
Milan on the subject of making said subscrip
tion as set out in the application aforesaid.
That, at this election. those who arc in favol
of the subscription shall have written o.
printed upon their tickets the words "Fol
Subscription" and those Opnosed shall hav,
written or printed on their tickets M
Subscription"
MAYOR AND ALDERMEN,
E. N. STONE, Mayer.